Sandeep Aujla Sells 16,061 Shares of Intuit Inc. (NASDAQ:INTU) Stock

CFO Sandeep Aujla of Intuit Inc. (NASDAQ:INTU) sold 16,061 shares at an average price of $726.13, totaling approximately $11.66 million. Post-sale, Aujla holds 197 shares, marking a 98.79% reduction in his stake. The transaction was filed with the SEC. Intuit's stock opened at $757.22, with a market cap of $211.69 billion. The company recently reported strong quarterly earnings, exceeding estimates, and declared a quarterly dividend of $1.04 per share, payable on July 18th.

Intuit Inc. (NASDAQ:INTU - Get Free Report) CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer now owns 197 shares of the company's stock, valued at $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Intuit Trading Up 0.4%

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Shares of INTU opened at $757.22 on Friday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $759.50. The firm has a market capitalization of $211.69 billion, a P/E ratio of 73.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock's fifty day simple moving average is $628.02 and its 200 day simple moving average is $623.14.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $9.88 EPS. On average, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. Intuit's dividend payout ratio (DPR) is 33.77%.

Institutional Investors Weigh In On Intuit

Several institutional investors have recently bought and sold shares of INTU. Apeiron RIA LLC raised its stake in shares of Intuit by 5.4% in the 1st quarter. Apeiron RIA LLC now owns 900 shares of the software maker's stock valued at $553,000 after acquiring an additional 46 shares during the period. Vista Cima Wealth Management LLC acquired a new stake in Intuit in the 1st quarter valued at $31,000. Strs Ohio purchased a new position in Intuit in the first quarter valued at about $51,019,000. Carderock Capital Management Inc. lifted its stake in shares of Intuit by 2.9% during the first quarter. Carderock Capital Management Inc. now owns 10,696 shares of the software maker's stock worth $6,567,000 after purchasing an additional 301 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its position in shares of Intuit by 6.7% in the first quarter. Advisors Capital Management LLC now owns 1,738 shares of the software maker's stock worth $1,067,000 after buying an additional 109 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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INTU has been the subject of several recent research reports. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. Bank of America lifted their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $820.00 price target (up from $714.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $785.33.

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Intuit Company Profile

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Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.